Ribera believes the cap on gas “works” and calculates that it has lowered the price of electricity by about 30 euros per MWh.

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Third Vice President and Minister of Ecological Transition and Demographic Challenge, Theresa Riverahas rated the so-called ‘Iberian exception’ as “positive”, just a week after
Measures to limit the price of natural gas to generate electricity will apply
and defended that it “shows that it works”, as it has lowered the price for consumers of regulated tariffs by 25 to 30 euros per megawatt hour (MWh), with respect to the price that was given without Tantra will exist.

In an informational meeting organized by the New Economy Forum, Ribeira attached importance to the operation of the mechanism despite the “extraordinarily difficult context and “Unprecedented” due to “unprecedented” heat wave This has led to an increase in demand and a decline in the production of renewables (wind and photovoltaics), which was linked to a decrease in Gazprom’s gas exports to Europe.

Despite all this, the Minister recognized that a “very significant” difference was observed between the price of the wholesale electricity market in the remaining European countries in relation to Spain and Portugal, even including gas compensation, which allowed a Granted the price per megawatt hour (MWh) is between 25 and 30 euros compared to what it would have been without the system.

“It shows that it works and allows us to think about improvements that invite us to think about signing long-term contracts for the industry, but with different components of the regulated rate review. Think about it too.”

On the other hand, Ribera assures that it is “fundamental” that Brussels “takes seriously” the issue of the Iberian Peninsula’s interrelationship with Europe, since “the physical and objective limit of any good is not less than 3% as that with it comes lightning”.

Thus, with electrical interconnections currently at 2.8% of capacity, they estimated this is a far cry from the set objectives of at least 10% in 2020 and at least 15% by 2030.

France

In addition, he pointed out that the electricity interconnection project between the Basque Country and France via the Bay of Biscay already has an “exact timetable”, after resolving technical difficulties that had delayed its development, and This will allow exchange capacity between the two countries to be doubled.

Regarding the increase in French electricity exports from Spain since the imposition of the ‘Iberian holiday of absence’, Ribera called for it to be “congruent”, because if “we need more Europe and we want more interconnection and internal markets”. we cannot say otherwise”.

In this regard, he pointed out that France is “living in a dire situation” due to the closure of part of its nuclear park due to security issues, in addition to the heat wave last week, which forced the country to “import electricity”. has prompted. from where it is exported.

Thus, he warned that Europe was experiencing a situation of “real and objective tension” with the threat of a total cutoff of natural gas supplies from Russia, requiring a response that “ensures responsibility and solidarity.” Is”.

In this sense, he pointed out that Spain is “so fortunate” that it does not have to think of “going back” to guarantee its energy supply, as is happening in other countries such as Germany or Denmark, that “it is striking That we are not all relieved.”

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